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Economists Quotes

Browse 11 quotes about Economists.

Economists Quotes

“In their quest to reduce all economic values to financial values, economists equated money with wealth, making money with creating wealth, and growth in the market price of an asset with growth in real value. They defined people as financial beings rather than living beings and ignored critical distinctions between the accumulated financial assets of individuals and the health and well-being of living communities. They forgot that the only legitimate purpose of an economy is to support households in making a living—not corporations in making a killing.”

“Funny how in a material world full of pundits and economists obsessed with assets and liabilities -personally, economically and globally - few speak about the greatest of all these…YOU.”

“...If you look at mainstream economics there are three things you will not find in a mainstream economic model - Banks, Debt, and Money. How anybody can think they can analyze capital while leaving out Banks, Debt, and Money is a bit to me like an ornithologist trying to work out how a bird flies whilst ignoring that the bird has wings...”

“The economy has ceased hiding itself behind mystifying words like God, devil, fatality, grace, damnation, nature, progress, duty, and necessity, with which, over the years, it gave itself an inescapable credibility. It no longer troubles itself with the frilly liberals, it is no longer bothered by the leninists in blue jeans — it laughs at the idea of taking any great leaps while wearing fascist jackboots or socialist bootees. It’s so simple and obvious it stands naked, and its omnipresence makes it familiar and familial. Reduced to the final necessity of survival, the economy brings together all its past lies; the lie that there is no hope for humanity’s survival outside of the economy.”

“The master-economist must possess a rare combination of gifts. He must reach a high standard in several different directions and must combine talents not often found together. He must be mathematician, historian, statesman, philosopher - in some degree. He must contemplate the particular in terms of the general, and touch abstract and concrete in the same flight of thought. He must study the present in the light of the past for the purposes of the future. No part of man's nature or his institutions must lie entirely outside his regard. He must be purposeful and disinterested in a simultaneous mood; as aloof and incorruptible as an artist, yet sometimes as near the earth as a politician.”

“...some student asked if he [Larry Summers] didn’t have essentially the same relationship with Bob Rubin. Wasn’t Summer’s opposition to capital controls just a sop to Wall Street banks, which wanted to recoup their risky investments regardless of how doing so affected the country in which they had invested? “Summers just lost it,” said one audience member, a business school student. “he looked at the person and said, “you don’t know what you’re talking about and how dare you ask this question of the president of Harvard?”